Minister for Industries and Commerce A.C. Moideen will chair a meeting here on Friday to discuss the draft of the government’s new industrial and commerce policy.
He will interact with industrialists, professionals, traders and representatives of various chambers of commerce and industry to elicit their opinion on the proposed policy. The draft has been put up on the website of the Industries Department.
The Minister will also hold meetings on the draft industrial policy in Thiruvananthapuram, Thrissur and Kozhikode later. The ideas and suggestions arising from these meetings will be considered while the policy is finalised.
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Creating more jobs
The new industrial policy proposes to strengthen the public sector, attract more investments and to create more jobs.
According to a pressnote, Kochi figures prominently in the draft industrial policy. One of the projects that stands out in the draft is the proposed propylene derivatives petrochemical complex for speciality derivatives like acrylic acids and acrylates used in plastics, paints, coatings, adhesives, inks and textiles.
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The draft proposes to set up the unit on 600 acres to be acquired from the Central public sector Fertilizers and Chemicals Travancore. The petrochemical complex will use five lakh tonnes of propylene expected from the expanded Kochi refinery under the Bharat Petroleum Corporation.
The State will utilise its seaport and airport facilities to augment exports. It will also leverage the incentives being provided by the Union government through Special Economic Zones. Besides, there are also Central government programmes like Credit Guarantee Fund Trust Scheme, Credit Llinked Capital Subsidy Scheme for Technology Upgradation, etc.